KeyCorp Forecasts Strong Price Appreciation for Schrödinger (NASDAQ:SDGR) Stock

Schrödinger (NASDAQ:SDGR) had its price target raised by investment analysts at KeyCorp from $25.00 to $27.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 8.41% from the stock’s current price.

Separately, BMO Capital Markets increased their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.10.

Schrödinger Stock Up 2.0 %

Shares of NASDAQ:SDGR traded up $0.50 during midday trading on Friday, reaching $24.91. The company’s stock had a trading volume of 606,535 shares, compared to its average volume of 887,171. The firm has a 50 day moving average of $20.59 and a 200-day moving average of $20.06. Schrödinger has a 12-month low of $16.67 and a 12-month high of $33.63. The firm has a market capitalization of $1.81 billion, a P/E ratio of -10.64 and a beta of 1.59.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12). The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Schrödinger’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.86) EPS. On average, research analysts predict that Schrödinger will post -2.29 EPS for the current year.

Institutional Trading of Schrödinger

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new position in Schrödinger in the 2nd quarter worth about $243,000. Ensign Peak Advisors Inc raised its position in Schrödinger by 4.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 23,893 shares of the company’s stock valued at $462,000 after purchasing an additional 950 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Schrödinger by 8.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 121,616 shares of the company’s stock worth $2,352,000 after buying an additional 9,497 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in Schrödinger during the 2nd quarter worth about $318,000. Finally, Millennium Management LLC increased its holdings in Schrödinger by 2,868.8% during the second quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after buying an additional 471,399 shares during the period. Institutional investors own 79.05% of the company’s stock.

Schrödinger Company Profile

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.